The Insured Retirement Institute (IRI) has released its 2018 Retirement Security Blueprint, focusing on saving challenges and older investor protections.
IRI officials said the guide would assist in providing sustainable strategies to Congress and the Administration as a means of addressing the challenges Americans face as they seek to save for and achieve a secure and dignified retirement.
“The Blueprint was constructed on the pillars of expanding opportunities to save, increasing access to lifetime income in retirement, helping savers make decisions about their finances for their retirement and protecting older investors from financial exploitation,” Lee Covington, IRI senior vice president and general counsel, said. “In 2018, we have identified initiatives to pursue which will maintain and enhance the current tax treatment of retirement savings; expand opportunities and enhance features to help Americans save for retirement.”
Covington said the IRI endeavors to increase use of lifetime income products in workplace retirement plans; preserve and improve access to professional financial guidance, education, and information; and provide more resources to protect older investors from financial exploitation.
As a means of helping retirement savers make sound financial decisions, IRI officials said they are calling for federal and state legislators and regulators to work constructively and collaboratively to develop a clear, consistent and workable best interest standard to avoid the creation of potentially duplicative, conflicting or incompatible rules.